TomProTrader
Short

XHB-Homebuilders: Weakness At Key Levels, Waiting For Shorts

AMEX:XHB   SPDR SERIES TRUST SPDR HOMEBUILDERS ETF
71 0 4
Traders

Clear weakness is seen here

-Lower low to an important resistance level , (Sideways as well as straight resistance levels, creating an action level)
-Sideways and straight resistance are having an impact on the stocks price.
-We are at 61.8 retrace of the corrective leg impulse, looking very nice for some downside
-Converging major MA's - Converging moving averages could create a death cross, (Already seen intermediate MA crossings occurs)
-Hidden bearish divergence on Stochastic .

Best of luck
Tom
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